Fed comments boost equities
|Stocks push higher after choppy week
Wall Street has pushed higher as the threat of US intervention in the Middle East having abated for now. Trump’s infamous ‘two-week period’ for making decisions seems to suggest that the rush towards further conflict has been halted, though Iranian intransigence might provoke the president. This should also cool oil prices for the time being too, with the market having become relatively desensitised to the back-and-forth of missile launches and air strikes that currently characterises the Iran-Israel war.
Fed’s Waller hints at rate cuts
Consolidation has been the theme in US stocks for some time, but hints of a more dovish approach from the Fed have been kept alive by Christopher Waller, who thinks the time has come for the Fed to cut rates. Even tariffs are not expected to provide a permanent boost to inflation, he added, bolstering the cause for ‘looking through’ any increase and focusing on the need to support the US economy.
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